Ann: Proposal from Wesfarmers, page-131

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h00ts

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02/05/19

12:02

Post #: 38372803
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Originally posted by butcherboy ↑

Yes, the door has been left open for other parties to enter the bidding process, it's just that management cannot solicit or entertain other offers during the Exclusivity Period. I think there is nothing stopping a 'hostile' takeover offer at a higher price. But it is up to shareholders to decide if they want to sell and at what price. Since WES currently only have 17% of the votes wrapped up, I think there is plenty of scope for an improved offer, and I also think the members of the board who have signed up would know that.

From the ASX release today:

"Together with shares under the control of the directors and management of Kidman, thismeans that shareholders holding approximately 17% of the shares in Kidman intend to votetheir shares in favour of the Proposed Scheme in the absence of a superior proposal andsubject to the Independent Expert concluding that the Proposed Scheme is in the bestinterests of shareholders."

Since 17% seems like a very small percentage of the shares on offer, one would expect the necessary bid to get other shareholders on board will be greater than $1.90. Also, no one goes in with their best offer first, so I'm hoping that a $2+ offer will be needed to acquire the company.

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Yes correct they dont have 17% if there is a higher bid the 17% will take the higher offer - having said that WES are in the box seat I imagine they will match or better any higher offer this is different from their hostile attempt at LYC

Last edited by h00ts: 02/05/19

KDR Price at posting: $1.84 Sentiment: None Disclosure: Not Held
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0 Great analysis

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